Report Code: A12245 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Automotive Safety Electronics Market
Request Now !Automotive electronics consists of electrically operated systems deployed in vehicles. Electronic fuel injection, airbags, advanced driver assistance, and infotainment are some of the areas where automotive electronic systems are mainly used to improve the overall efficiency of the combined system. As electric vehicles and hybrid vehicles become more and more popular in the market, these systems are likely to become key areas of focus for electronic system suppliers. Technological advancements such as electrical suspensions and power trains for electric vehicles in the automotive industry are likely to increase the application areas for power electronic system in the automotive sector. More and more security issues have led to advanced security systems that are expected to promote the development of the global automotive electronics market. Moreover, powertrains, wheels, parking assistance, and electrical suspensions are the major application areas most likely to spur the growth of the global automotive electronics market. Increasing demand for high-speed vehicles has resulted in increased rate of accidents. Thus, the demand for integrating vehicles with advance automotive electronics safety has increased significantly. With integrated safety features in the vehicles, the demand for automobile increases simultaneously, thus resulting in the growth of global automotive safety electronics market.
COVID-19 Impact analysis
The global market for automotive electronics safety system is severely impacted by the outbreak of the COVID-19 pandemic. The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns. Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap. Thus, insufficiency in raw material supply is expected to hamper the production rate of automotive electronics safety system, which negatively impact the market growth. However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
Top Impacting Factors
The automotive safety electronics market trends are as follows:
Growing use of automotive sensors
Automation in vehicles is considered as the ultimate goal for mobility. Automakers and tier 1 suppliers, as well as technology providers (e.g., semiconductor vendors) and smart mobility companies (e.g., ridesharing companies) not traditionally involved in the automotive industry, are all racing to develop and invest in related technologies. Semiconductor vendors are actively developing a wide range of microchips and fusion and system-on-chip devices incorporating artificial intelligence (AI) and machine learning technologies. Safety is a key selling point for autonomous vehicles. However, getting to full autonomy (level 5) requires advancements in technologies, such as ADAS, electronic stability control, lane departure warning, anti-lock brakes, and traction control, that can help in reducing the number of traffic accidents. For instance, Mercedes has introduced S- class Sedan with Intelligent Drive package of safety and driving-assistance systems. The vehicle is equipped is controls, sensors and 36 separate technologies including 12 ultrasonic and 6 radar sensors and around 8 cameras monitoring 360 degree of the car. All these technologies require complex electronic components that include high-speed processors, memory, controllers, sensors, and datalinks to ensure the reliability and safety of vehicles. Thus driving the growth of the market.
Safety threats in autonomous cars
In recent years, self-driving cars have gained more and more attention. There have been many fatal accidents involving self-driving cars. The level of autonomous driving of self-driving cars will range from 3 to 5, and the interpersonal interaction of the vehicles is limited. In April 2021, a self-driving car crashed and burst into fire. In this event car electronics safety system wasn’t able to recognize obstacle. With the development of advanced sensors such as radar, lidar, and image sensors, OEMs are expected to adopt them in autonomous vehicles. However, OEMs and automakers must focus on making these sensors more accurate and reliable. Thus safety threats in autonomous cars driving the growth of automotive safety electronics market.
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Questions answered in the automotive safety electronics market research report:
Automotive Safety Electronics Market Report Highlights
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Key Market Players | Continental AG, ADVICS, ZF, Aptiv (Delphi Automotive), Bosch, Gentex, HARMAN, Denso, Autoliv, Aisin Seiki |
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